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re: Over Funding Life Insurance vs. Roth IRA
Posted on 11/9/13 at 11:38 am to Bama98
Posted on 11/9/13 at 11:38 am to Bama98
There are fees with Roth IRAs too!! There are fees with anything...get past the fees- only talk with experts about this- this is a guaranteed 5-8 percent--Roths have historically been better, but that is not guaranteed...
1
Posted on 11/9/13 at 12:27 pm to Sdento1
quote:
There are fees with Roth IRAs too!! There are fees with anything...get past the fees- only talk with experts about this- this is a guaranteed 5-8 percent--Roths have historically been better, but that is not guaranteed...
Don't forget 20% surrender charges, guarantees that only apply if you leave your money with that life insurance company, etc.
If it sounds too good to be true, then it probably is. I am in Insurance & Financial Services, and variable ULs are typically not very good. Stick with Mutual Funds in a ROTH and/or Dividend paying Whole Life. Term for large death benefits for cheap rates.
If you have credit card debt and/or unsecured debt with high interest rates, pay that off before you start investing in anything.
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